Celo Developer cLabs Proposes Ethereum Layer 2 Chain Development Using OP Stack

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The company behind the development of Celo blockchain, cLabs, has suggested creating an Ethereum (ETH) Layer 2 (L2) chain using the Optimistic Rollup (OP) technology stack. This project signifies a major move towards improving the scalability and efficiency within the Ethereum network.

cLabs Proposes L2 to Address Ethereum Community Needs

The plan intends to utilize the Optimistic Rollup and zkRollup system, collectively known as the OP stack, to help Ethereum overcome some of its major scalability issues. This choice comes after an extensive eight-month examination and experimentation with various scaling solutions, including zkSync’s ZK Stack, Polygon CDK, and Arbitrum Orbit.

Through the implementation of the OP stack, cLabs aims to establish a custom Layer 2 network for Ethereum users. This network will be compatible with Ethereum and facilitate effortless transfer of assets and information between them. Additionally, it will accommodate smart contracts, empowering developers to construct Decentralized Applications (dApps) while taking advantage of the scalability benefits offered by Layer 2 solutions.

Later in the summer, we intend to launch the testnet for the Celo Layer 2 project. Following this, there will be another community vote. It is important to mention that moving to the Optimism ecosystem is part of our plan to integrate Celo into the larger Optimism Superchain network, which includes OP Mainnet, Mode, Base, Zora, and other components.

In a similar vein, the planned Layer 2 network is intended to be hassle-free for users, delivering swift transaction confirmation and minimal delay. Furthermore, an upcoming improvement includes reducing the block time from 5 seconds to 2 seconds and boosting capacity by half.

Celo Foundation Build Sustainable Web3 Startups

Last year, Google Cloud Services and the Celo Foundation revealed their collaboration, with the goal of assisting initiatives within the Celo blockchain community and promoting the initial implementation of Google Cloud’s offerings.

Through the partnership, founders working on Celo projects will gain access to Google Cloud and Firebase credits. This aids in improving Celo’s mobile-focused infrastructure and the development of dApps. In return, the Celo Foundation’s leaders will receive expert mentorship and advice from Google Cloud during their participation in the Residence program.

Additionally, Celo and Google will team up to organize events and sessions centered around Web3.0’s innovation and sustainability. By offering support to emerging initiatives, these organizations aim to ease the burden on developers, enabling them to address current and upcoming sustainability concerns.

Operating similarly, Opera, the recognized web services provider, plans to incorporate a non-custodial wallet for stablecoins based on the Celo blockchain into its mobile web browser as an addition called MiniPay. This feature aims to offer Opera’s substantial African user base a hassle-free and secure method to manage their stablecoins.

The partnership between Celo and Opera’s MiniPay wallet is beneficial news for Africa’s growing digital finance industry. Due to Celo’s large user base in Africa, this collaboration will increase MiniPay’s functionality by enabling users to utilize a wider variety of decentralized services and apps.

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2024-04-22 19:43